LSE, TMX Eye ‘Opportunities Elsewhere' after Abandoning Merger [UPDATE 5]

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The London Stock Exchange (LSE) Group and Canadian exchange group TMX have called off their planned merger after a proxy vote revealed the deal was unlikely to achieve the required support of two-thirds of TMX's shareholders.

To secure the merger, the LSE required a 50 percent vote of approval from its shareholders, which it successfully achieved. However, LSE and TMX officials said today that the exchanges believe the merger is highly unlikely to achieve the required two-thirds majority

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